Phthalic Anhydride Weekly Report 10 Feb 2018

Weekly Price Trend: 05-02-2018 to 09-02-2017

• The above given graph focuses on the Phthalic Anhydride price trend for current week.
• There has been significant fall in domestic prices for this week. Prices were assessed around Rs.82/Kg for Ahmedabad and Rs 80/Kg for Mumbai port.

Booking Scenario

Antidumping Duty Country-wise
Israel-USD 139.76/MT Taiwan-USD150.88/MT Korea-USD91.12/MT.
The above chart shows the international prices of Phthalic Anhydride and its comparison from the previous prices.

INDIA & INTERNATIONAL

• Domestic prices were assessed in the range of 82/Kg for Ahmedabad and Rs 80/Kg for Mumbai port. This week there has hike in domestic values. CFR India Phthalic Anhydride prices were assessed at the level of USD 1040-1060/MT.
• There has been increase in domestic values along with hike in international prices. But this hike was subdued as week progressed. In the latter half of the week there has been heavy decline in crude values which in turn led to slight weakening of other petrochemical products.
• This week crude oil prices have followed weak trend. Oil prices fell sharply after the U.S. government reported crude stockpiles rose by 1.9 million barrels. The increasing U.S. oil production and crude stockpiles, and stock market sell-off, piled pressure on oil prices this week. A stronger dollar has also been a prevailing factor the decline. But the supply dynamics are working against a sustained price rally.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $61.15/bbl; prices have decreased by $0.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.70/bbl in compared to last trading and was assessed around $64.81/bbl.
• As per market analyst oil market moves could be exaggerated because the number of bets that crude prices will keep climbing has risen sharply, while wagers that prices will fall have plunged. That extreme market positioning can encourage bouts of profit-taking.

$1 = Rs. 64.40
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85